Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
Asia’s IPO Market Set for Strong Growth as China and India Drive Investor Diversification 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
The Philippine Economic Zone Authority (PEZA) has approved 120 new and expansion projects in the first half of the year, signaling robust confidence in the country's business environment and economic potential. These projects are expected to generate over 25,000 direct jobs and inject PHP 45.482 billion in investments, with projected exports reaching approximately USD 1.611 billion.
Significant Increase in Project Approvals and Employment
The approval of these projects represents an 18 percent increase from the same period last year when 102 projects were approved. The projected direct employment from these new projects has surged by 64 percent, rising from 15,424 jobs last year to 25,259 this year.
PEZA approved 70 new and expansion projects in the second quarter alone, a 40 percent increase compared to the 50 projects greenlighted in the first quarter. This quarter also saw a substantial 104.29 percent increase in investments, totaling PHP 30.530 billion, up from PHP 14.951 billion in the previous quarter.
Notable Big-Ticket Projects
Five big-ticket projects were approved in the year's first half, with combined total investments amounting to PHP 31.362 billion. The largest project is a Filipino-led ecozone development in Tarlac. Other significant projects include a Caymanian company's manufacturing of solar wafer cells with Maxeon 7 technology and a Japanese firm's production of metal base wire-wound chip inductors.
In June, PEZA approved two additional significant projects. One is a PHP 6.150 billion investment by a Malaysian company focusing on manufacturing and assembling hair stylers. The other is a Japanese company's project in General Santos City, producing biomass fuel products, oxygen reducers, and high-quality activated charcoal from coconut shells.
Continued Growth and Regional Investment
On June 28, the PEZA Board approved 25 new and expansion projects, contributing PHP 8.654 billion in investments, USD 416 million in exports, and creating 5,881 direct employment opportunities. This reflects a 13.64 percent increase in projects from June 2023 and a 69.24 percent rise in direct employment compared to last year.
The 25 approved projects span various industries, including export manufacturing (11 projects), IT-BPM (six projects), domestic markets (three projects), facilities development (one project), and logistics services (one project). The Calabarzon region remains a preferred destination, attracting PHP 22 billion in investments for new locator projects in Batangas, Cavite, and Laguna. The National Capital Region followed with PHP 1.563 billion in investments, with projects in Quezon City and Marikina.
Other notable regional investments include PHP 13.278 billion in Region 3 (Pampanga and Bulacan), PHP 5.472 billion in Region 7 (Cebu), and PHP 1.718 billion in Region 12 (General Santos).
Economic Implications and Future Outlook
The significant increase in project approvals and investments by PEZA highlights the growing confidence in the Philippines' economic potential. The surge in job creation and the influx of substantial investments are expected to bolster the country's economic growth and enhance its competitive position in the global market.
As PEZA continues to attract diverse investments across various regions and industries, the Philippines is poised to see sustained economic development, creating more job opportunities and driving further growth in the coming years.
